What is ISO 27001, why is ISO 27001 important and why get ISO 27001 certification?
Benefits of ISO 27001: Why is it important?
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What is ISO 27001?
The ISO 27001 standard – also known as ISO/IEC 27001:2022 – is an internationally recognised standard for information security. ISO 27001 outlines requirements for any organisation to build, maintain and continually improve an Information Security Management System (ISMS).
An ISMS is an auditable framework for policies, procedures, processes and systems that manage information security risks such as cyberattacks, data leaks, theft or fraud.
The ISO 27001 framework comprises of security controls to protect information assets, analyse risk effectively and outline internal processes. This risk management process framework enables companies to implement a robust ISMS which can be ISO 27001 certified.
As a holistic standard, ISO 27001 encompasses the entire organisation, not just the IT department. This means people, processes and technology are considered across the whole business. ISO 27001 also uniquely involves input from management and other stakeholders in a top-down approach.
In 2022, a new version of the ISO 27001 standard was published. On release, ISO stated that the updates aimed to “address global cyber security challenges and improve digital trust”.
The newly released version of the ISO 27001 standard – named ISO 27001: 2022 – is also referred to as ‘Information Security, Cybersecurity and Privacy Protection’.
The ISO 27001 controls have been reorganised in the 2022 version. There are four main categories: Organisational controls, people controls, security controls and technological controls.
The key changes to the standard are found in Annex A – with a reduction in controls, from 144 to a more consolidated 93. This includes security controls which have been merged and some removed completely.
Learn MoreThe importance of ISO 27001
Information security best practice isn’t just the role of the IT department. Any employee must adhere to data management processes set out by the business.
ISO 27001 provides a clear directive of processes that must be followed to keep data and sensitive information safe.
The ISO 27001 Information Security Management System (ISMS) will provide any organisation with effective risk management processes, minimise the likelihood of a data breach and advise on business continuity processes and implications.
ISO 27001 compliance was previously seen as a competitive edge. However, in many cases ISO certification is obtained due to regulatory requirements or contractual obligations.
Any organisation that works with the Government or healthcare organsiations, especially the NHS, is required to prove ISO 27001 certification has been achieved.
ISO 27001 provides the standard by which modern organisations should manage data and confidential information to protect IP (Intellectual Property) and minimise security threats.
By following ISO 27001 controls, customers, partners and stakeholders have confidence that information security management is prioritised within the business.
Achieving ISO 27001 certification has many benefits for organisations. Some of the benefits of ISO 27001 include a competitive advantage when bidding for contract tenders, a more effective risk based approach to cybersecurity and an improved overall security posture to protect the business from cyberattacks.
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What are the Benefits of ISO 27001?
Are you beginning to look at ISO 27001 certification or implementation for your business?
One of the main benefits of ISO 27001 certification is that you can prove to potential suppliers, partners and customers that you follow a stringent framework to protect their data and sensitive information.
Having an internationally recognised certification, audited annually, demonstrates a commitment to protecting information security and places trust in the business. This is why ISO 27001 is important for all organisations.
ISO 27001 benefits include the demonstration of robust security practices, customer trust and retention, regulatory requirements compliance and – one that cannot be underestimated in current times – the mitigation of the risk of security breaches.
This gives any ISO 27001 certified organsiation a competitive advantage.
The Benefits of ISO 27001
With ISO 27001 certification being an increasingly requested contractual obligation throughout partner ecosystems and third parties or supply chains, obtaining ISO certification will give any business a competitive edge when submitting tender applications for new business opportunities.
Without this certification, some new business opportunities may be unavailable, hugely disadvantaging any potential growth.
According to an IBM report, the average cost of a data breach in the UK today is anywhere between $3.86 million-$4.24 million USD. This has reportedly increased by 12% over the last two years.
Comparatively, the benefits of ISO 27001 compliance means that these costs and fines can be mitigated, even in the event of a breach. The Information Commissioner’s Office (ICO) is known to reduce data breach fines for organisations that demonstrate a high level of risk management and mitigation effort. T
Other cost savings which are benefits of ISO 27001 are from highly defined and effective processes, which safeguard the business against wasted time and effort. This is also why iso 27001 is important in the recovery from a security incident, as these processes will minimise business downtime.
The ISO 27001 benefits in terms of customer retention include the trust and increased confidence that an internationally recognised information security certification brings. This is especially important when cyber attacks are at an all-time high.
Not only will this ensure that an organisation retains customers but also increases the likelihood of new customer wins.
The benefits of ISO 27001 show new and potential customers that the business takes data security seriously. This instills a high level of trust from the offset of the relationship.
With increasing awareness of cyberattacks, customers are demanding more from their business and commercial suppliers in terms of cyber security.
An organisation with an ISO 27001 certification will be given favour over those who can’t ensure that personal data is secured. This is especially true when it comes to tendering new contracts.
This is why iso 27001 is important in demonstrating the data protection that is in place. ISO 27001 certification is pertinent when a business is looking to launch in new industries or territories for the same reasons.
One of the benefits of ISO 27001 is that any organisation that complies with the security controls – in order to implement an information security management system (ISMS) – will have a greater understanding of their risk profile.
Any security risks identified as part of the risk assessment during certification process can be mitigated, further protecting the business from security breaches.
For all businesses handling personal data, especially those with sensitive data, the benefits of ISO 27001 in increasing trust in the organisation are paramount. With regular independent and internal audits, all stakeholders understand whether the controls are working as needed to protect against cyberattacks.
Adopting the ISO 27001 framework provides assurance that the organisation employs the highest integrity when it comes to data security and policies and processes.
ISO 27001 benefits also include regular cyber security awareness training, which in turn brings a front-line level of protection to mitigate against human error and bolster internal and external reputation.
Probably one of the primary benefits of ISO 27001 certification is the safeguarding of the business against successful cyber attacks. While ISO 27001 can’t stop the attacks, it does put the necessary policies and processes in place to stop cyber attacks from succeeding.
By addressing any weaknesses or issues in personal data processing and security practices, ISO 27001 benefits organisations with higher levels of protection and ongoing continual improvement.
A key benefit of ISO 27001 certification is the evidence that the organisation is compliant with information security and data standards such as GDPR (General Data Protection Regulations) and the Data Protection Act.
The requirements for compliance are outlined in the Annex A controls.
The benefits of ISO 27001 audits to evaluate compliance with the methodology framework provide proof that not only is an organisation safeguarded against cyberattacks right now, but also protected into the future. Audits should be scheduled with an external assessor annually.
One of the benefits of ISO 27001 is the fact that any organisation that can demonstrate data protection practices can avoid penalties associated with security breaches.
Organsiations that aren’t able to prove commitment to data security could face large fines in the event of a breach. In the EU, GDPR states that the ICO can issue fines up to 4% of the organisation’s annual turnover, or €20m, whichever is the greater.
The reputational damage that this would also cause is unthinkable.
It’s important to note that while high profile fines have been issued to the likes of British Airways and Marriott International Hotels, smaller businesses are liable too.
One of the reasons why ISO 27001 is important is that as organisations grow, there’s a danger that processes are created inside individual teams that leave the business vulnerable.
As ISO 27001 certification encapsulates the whole organisation, it can be scaled to match the business growth and will prevent inefficiencies and gaps in security standards.
21%
of companies lose money following a breach
1in3
businesses suffer wide disruption following a breach
80%
of organisations said ISO 27001 had actively inspired trust in their business
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Why get ISO 27001 certified
Cyber incidents are increasingly common across the world. DCMS’s Cyber Breaches Survey found that only 39% of organisations in the UK were able to identify that they had suffered a breach.
Without ISO 27001, it’s impossible to implement and maintain an effective ISMS. This puts your business, your employees, your customer data and your reputation at risk.
The benefits of ISO 27001 certification in preparing policies and processes to manage information security effectively, put certified organisations ahead of the criminals.
ISO 27001 certification demonstrates the highest level of controls around information security, identifies any risk to the organisation and limits any damage that a security breach might cause.
Being aware of any gaps in an organisation’s security policies and practices allows remediation of any weaknesses and mitigation of the risk of a data breach. This is why iso 27001 is important in the ongoing battle against malicious actors.
With ongoing formal audits, ISO 27001 certified companies can prove best practice processes and clearly defined information security policies, putting them ahead of the competition to win more business.
Implementing ISO 27001 is a decision which can’t be undertaken lightly. It needs to be a top-down decision with the full support of senior management. Before the journey to ISO 27001 certification is started, businesses must understand if they are ready and if it’s the right time for certification.
If companies can answer positively to this ISO 27001 checklist, then they are ready to implement the relevant processes and controls needed to get ISO 27001 certified.
Achieving ISO 27001 certification shows that a business has:
Secured data in all forms
Assessed and reduced the risk of a breach
Increased its resilience to cyberattacks
Created a centrally managed framework to ensure data is only modified by authorised users
Responded to macro factors and evolving cyber security threats
Protected the integrity, confidentiality and availability of data
Protected customer data from falling into the wrong hands
Protected business reputation
Been independently assessed to an international standard for ISMS best practice
DigitalXRAID’s fully managed ISO 27001 Certification service
Keeping our customers one step ahead of cyber criminals is at the very heart of what we do. DigitalXRAID’s fully managed ISO 27001 certification service will help you to secure your assets, shield you from attacks and make sure your data remains safe.
Trying to implement your own ISO 27001 information security management system is difficult without specialist knowledge and experience of the ISO 27001 standard controls. Let DigitalXRAID take on the effort of the process for you.
DigitalXRAID is fully certified to all ISO 27001, ISO 20000 and ISO 9001 standards. Our team of experts are fully qualified to implement and audit against ISO standards and will provide guidance so you can achieve the same.
We’re also CHECK and CREST accredited. This means we’re leaders in our field and the best choice to manage your ISO 27001 certification effectively. Our security professionals are among the best in the country. They are fully qualified, accredited and security checked. Therefore, you can rest assured you are getting the best possible ISO 27001 implementation.
With the benefits of ISO 27001, we will:
- Provide a detailed gap analysis to understand what work must be undertaken
- Guide you through all mandatory documentation
- Deliver guidance to adhere to all ISO 27001 requirements
- Help you through every step of the certification audits
- Provide ongoing support and monthly audits after certification
- Make sure your information assets remain safe and secure
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Get in touch today to speak to an expert and secure your business, or call us on 0800 090 3734
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